Top 3 Actuarial Interview Questions
Browse 3 real-world technical and behavioral interview questions about Actuarial. Review scenarios, edge cases, and architectural best practices.
How does the reserve figure your systems produce end up changing next year's rates, and where does that loop break?
Reserving estimates what business already written will ultimately cost, and pricing needs that cost attributed back to the characteristics that were rated. The loop breaks over which period a loss belongs to, over recent years whose figures are still moving, and over premium earned at rates nobody charges any more.
What is a loss development triangle, and what does the actuary need from your claims system that reporting does not?
A loss development triangle groups claims by accident or underwriting period and development age so actuaries can estimate ultimate cost, IBNR and reserve movement. It needs immutable claim transactions, evaluation-date reconstruction and clear paid versus incurred measures.
The actuarial team says they cannot use the claims data your reporting warehouse produces. What are they missing?
Reporting shows the current state of each claim, and actuaries need the state as at each past valuation date, cut by accident period and development period. That is a different shape of data, and it cannot be reconstructed from a table that overwrites a claim's figures as it develops.